Official interest rates are almost certain to remain on hold at 2.5 per cent when the Reserve Bank meets today.

Analysts saw the Reserve Bank's rate cut last month as a sure bet, but this month, economists are unanimous in their determination that the cash rate will stay at the historic low.

Citigroup's head of economics, Paul Brennan, says the RBA had plenty of cause to cut in August, having just downgraded its growth outlook.

"They also had news on inflation which was quite favourable, so I think they saw the opportunity just to take rates down a little bit further," he said.

Commonwealth Bank senior economist Michael Workman says further cuts will depend on the next inflation reading and the health of the labour market.

"Maybe after the next CPI data, there could be a move to cut rates, but you'd have to have much higher unemployment rates," he said.

Mr Workman believes domestic politics are unlikely to have any bearing on the interest rates decision.

"I don't think the election cycle is of relevance to their decision making," he said.

"I mean they've always been pretty clear about the economic issues that they look at and those issues around the direction that the currency is moving and the level of it, and they don't generally consider the political cycle at all."

Mr Brennan says there is a widely held view that business confidence will improve after the election, and that is something the RBA will want to monitor.

"I think they'd want to sort of see to what extent that actually happens and so from their point of view, I think it's sensible, having cut interest rates in August, to step back, see what the overall outlook is for the economy over the next couple of months, and then reassess towards the end of this year."